NEW YORK, April 23, 2018 /PRNewswire/ -- AllianceBernstein National Municipal Income Fund, Inc.(NYSE: AFB) (the "Fund") today released its monthly portfolio update as of March 31, 2018.
| AllianceBernstein National Municipal Income Fund, Inc. |
||
| Top 10 Fixed-Income Holdings |
Portfolio % |
|
| 1) Metropolitan Transportation Authority (Metropolitan Transportation Authority Ded Tax) Series 2016A 5.25%, 11/15/35 |
2.53% |
|
| 2) State of Connecticut Special Tax Revenue Series 2012 5.00%, 1/01/29 |
2.26% |
|
| 3) Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax) Series 2011B 5.00%, 10/15/32 |
2.15% |
|
| 4) Los Angeles Department of Water & Power PWR Series 2013B 5.00%, 7/01/30 |
1.72% |
|
| 5) Jefferson County Board of Education/AL Series 2018 5.00%, 2/01/46 |
1.68% |
|
| 6) Miami Beach Health Facilities Authority (Mount Sinai Medical Center of Florida, Inc.) Series 2014 5.00%, 11/15/39 |
1.48% |
|
| 7) City of New York NY Series 2012I 5.00%, 8/01/28 |
1.47% |
|
| 8) City of Orlando FL Series 2014A 5.00%, 11/01/44 (Prerefunded/ETM) |
1.35% |
|
| 9) Chicago O'Hare International Airport Series 2016B 5.00%, 1/01/41 |
1.34% |
|
| 10) Port Authority of New York & New Jersey Series 2014-186 5.00%, 10/15/44 |
1.33% |
|
| Sector/Industry Breakdown |
Portfolio % |
|
| Revenue |
||
| Airport |
9.95% |
|
| Health Care - Not-for-Profit |
9.77% |
|
| Toll Roads/Transit |
9.09% |
|
| Electric Utility |
5.10% |
|
| Higher Education - Public |
4.00% |
|
| Revenue - Miscellaneous |
3.87% |
|
| Water & Sewer |
3.66% |
|
| Port |
1.51% |
|
| Higher Education - Private |
1.31% |
|
| Prepay Energy |
0.70% |
|
| Primary/Secondary Ed. - Public |
0.56% |
|
| Senior Living |
0.31% |
|
| SUBTOTAL |
49.83% |
|
| Tax Supported |
||
| Special Tax |
18.11% |
|
| State G.O. |
8.05% |
|
| Local G.O. |
6.84% |
|
| Tax-Supported State Lease |
3.08% |
|
| Tax-Supported Local Lease |
1.16% |
|
| SUBTOTAL |
37.24% |
|
| Prerefunded/ETM |
11.51% |
|
| Insured/Guaranteed |
||
| Guaranteed |
0.80% |
|
| SUBTOTAL |
0.80% |
|
| Cash Equivalents |
||
| Investment Companies |
0.35% |
|
| SUBTOTAL |
0.35% |
|
| Asset-Backed |
||
| Housing - Multi-Family |
0.27% |
|
| SUBTOTAL |
0.27% |
|
| Total |
100.00% |
|
| State Breakdown |
Portfolio % |
|
| New York |
15.87% |
|
| California |
13.83% |
|
| Texas |
8.59% |
|
| Illinois |
8.07% |
|
| Pennsylvania |
7.18% |
|
| Connecticut |
6.99% |
|
| Florida |
6.03% |
|
| New Jersey |
5.60% |
|
| Michigan |
5.43% |
|
| Massachusetts |
2.57% |
|
| Alabama |
2.36% |
|
| South Carolina |
1.88% |
|
| Hawaii |
1.78% |
|
| Washington |
1.59% |
|
| Kentucky |
1.42% |
|
| North Carolina |
1.28% |
|
| Tennessee |
1.21% |
|
| Colorado |
1.14% |
|
| Maryland |
1.08% |
|
| District of Columbia |
1.02% |
|
| Oregon |
0.83% |
|
| Georgia |
0.80% |
|
| Utah |
0.75% |
|
| Arizona |
0.70% |
|
| Minnesota |
0.46% |
|
| Arkansas |
0.33% |
|
| Ohio |
0.30% |
|
| Oklahoma |
0.27% |
|
| Indiana |
0.20% |
|
| Wisconsin |
0.09% |
|
| Other |
0.35% |
|
| Total Investments |
100.00% |
|
| Credit Quality Breakdown |
Portfolio % |
|
| AAA |
7.81% |
|
| AA |
39.83% |
|
| A |
27.18% |
|
| BBB |
11.88% |
|
| BB |
0.36% |
|
| B |
0.27% |
|
| D |
0.00% |
|
| Not Rated |
0.81% |
|
| Pre-refunded Bonds |
11.51% |
|
| Short-Term Investments |
0.35% |
|
| Total Investments |
100.00% |
|
| Bonds By Maturity |
Portfolio % |
|
| Less than 1 year |
0.35% |
|
| 1 to 5 years |
1.08% |
|
| 5 to 10 years |
8.63% |
|
| 10 to 20 years |
65.12% |
|
| 20 to 30 years |
24.25% |
|
| More Than 30 years |
0.52% |
|
| Other |
0.05% |
|
| Total Investments |
100.00% |
|
| Portfolio Statistics: |
||
| AMT Percent: |
9.79% |
|
| Average Coupon: |
5.16% |
|
| Percentage of Leverage: |
||
| Bank Borrowing: |
0.00% |
|
| Investment Operations: |
0.00% |
|
| Auction Preferred Shares (APS): |
14.44% |
|
| Tender Option Bonds: |
4.11% |
|
| Variable Rate MuniFund Term Preferred Shares (VMTPs): |
22.12% |
|
| Total Fund Leverage: |
40.67%* |
|
| Average Effective Maturity: |
5.93 Years |
|
| Effective Duration: |
5.17 Years |
|
| Total Net Assets: |
$505.30 Million** |
|
| Common Stock Net Asset Value: |
$14.37 |
|
| Number of Holdings: |
171 |
|
| Portfolio Turnover: |
11% |
|
* The total percentage of leverage constitutes 4.11% through the use of tender option bonds, 14.44% in issued and outstanding APS,22.12% in issued and outstanding VMTPs and 0.00% in investment operations, which may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities.
** Includes $92,125,000 of APS at liquidation value.The Fund also had outstanding $141,100,000 of VMTPs at liquidation value, which is not included in Total Net Assets because it is treated as a liability for financial reporting purposes.
The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P.
SOURCE AllianceBernstein L.P.